Earlier quoted context omitted.
Too late for edit... But rereading the blog and references... I suspect if this was on real hardware, with a real 16550 UART, you'd have the same issue, but without the message about too many interrupts. You'd just have your logs backing up because you're writing more than 115kbaud, and then things that write logs become blocking. You'd need to figure that out by seeing what processes are blocked on what, rather than…
It's not clear from the thread whether the logging to the serial port was in the same thread as the audio processing. If it was, then it would be a problem either way. If it wasn't, then the fact that the irq is not premptable would mean that it will cause problems for all threads in the virtual case, but not in the real hardware case.
Something message at a time would be so much more useful than byte at a time with outb (does the Linux driver do rep outb... would that actually help?)